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Nasdaq · Healthcare

Akebia Therapeutics, Inc. (AKBA)

As-reported financials and SEC filings for Akebia Therapeutics, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Akebia Therapeutics, Inc.

Akebia Therapeutics, Inc. is a biopharmaceutical company that develops and commercializes treatments for kidney disease. Its main products include Vafseo, an oral medication approved for treating anemia in adult patients with chronic kidney disease on dialysis, and Auryxia, used to control serum phosphorus and treat iron deficiency anemia in kidney disease patients. The company also develops mid-stage and early-stage drug candidates targeting rare kidney diseases and other conditions.

Snapshot

Revenue
$236.2M
Revenue growth (YoY)
47.5%
Net income
$-5.3M
Diluted EPS
$-0.02
Gross margin
83.3%
Operating margin
9.9%
Net margin
-2.3%
FCF margin
28.7%
ROE
-16.4%
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$254.6M
Long-term debt / equity
1.48×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Akebia Therapeutics

  • Revenue grew 47.5% to $236M in FY2025, after a 17.7% decline the year before.
  • Operating margin turned positive at 9.9% in FY2025, from a 125.0% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $49M, down 21.4% from Q2 FY2025.
  • Free cash flow was $68M in FY2025, 28.7% of revenue.
  • Net loss narrowed to $5M in FY2025, from $69M in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Akebia Therapeutics’s fundamentals sit among the 198 pharmaceutical companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin83.3%
84th percentile of 69
Operating margin9.9%
64th percentile of 113
Net margin-2.3%
48th percentile of 122
FCF margin28.7%
88th percentile of 110
Revenue growth (YoY)+47.5%
73rd percentile of 187
ROE-16.4%
55th percentile of 167
Long-term debt / equity1.48×
87th percentile of 64
Short interest3.54d
31st percentile of 197

Akebia Therapeutics’s FCF margin of 28.7% ranks in the 88th percentile of the 110 pharmaceutical companies reporting it. Akebia Therapeutics’s long-term debt to equity of 1.48 ranks in the 87th percentile of the 64 pharmaceutical companies reporting it.

No reported insider purchases (code P) in the last 90 days; 1 insider sale totaling $62,181. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 1 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
1
+6 quant / multi-strat
Initiated / added
6
0 new, 6 added
Reduced / exited
1
1 trimmed, 0 exited
Combined position
$20.3M
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ2 2026$10.4M9.2MAdded
Millennium ManagementquantQ2 2026$3.6M3.2MAdded
Two Sigma InvestmentsquantQ2 2026$2.8M2.4MAdded
Citadel AdvisorsquantQ2 2026$2.0M1.7MAdded
Renaissance TechnologiesquantQ2 2026$1.4M1.2MReduced
D. E. ShawquantQ2 2026$100,00387.7KAdded
Gotham Asset ManagementQ2 2026$41,10036.1KAdded

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
1
$62K
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-06-29
filed 2026-07-01
Ostrowski ErikSVP, CFO, CBO & TreasurerSell56.0K$1.11$62K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
21.4M
settled 2026-08-14
Change vs prior
+11.4%
vs previous settlement
Days to cover
3.54
at avg daily volume
Avg daily volume
6.0M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1421.4M+11.4%3.54
2026-07-3119.2M+0.6%8.81
2026-07-1519.1M-0.5%4.20
2026-06-3019.2M-34.3%2.69
2026-06-1529.2M+6.5%5.60
2026-05-2927.4M+4.0%4.14
2026-05-1526.4M-4.5%5.69
2026-04-3027.6M+1.1%11.35

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$236.2M$160.2M$194.6M$292.5M$211.7M
Gross profit$196.7M$97.0M$120.5M$206.9M$61.0M
Operating income$23.5M$-50.5M$-46.3M$-80.8M$-264.5M
Net income$-5.3M$-69.4M$-51.9M$-94.2M$-282.0M
Diluted EPS$-0.02$-0.33$-0.28$-0.52$-1.70

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$68.0M$-40.7M$-23.4M$-73.2M$-253.0M
Capital expenditure$291,000$33,000$0$114,000$59,000
Free cash flow$67.7M$-40.7M$-23.4M$-73.3M$-253.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$49.1M-21.4%$-8.9M$-0.03
Q1 FY2026$53.5M-6.6%$-9.1M$-0.03
Q4 FY2025$57.6M23.9%$-12.2M$-0.05
Q3 FY2025$58.8M57.0%$540,000$0.00
Q2 FY2025$62.5M43.1%$247,000$0.00
Q1 FY2025$57.3M75.8%$6.1M$0.03
Q4 FY2024$46.5M-17.3%$-22.8M$-0.10
Q3 FY2024$37.4M-11.0%$-20.0M$-0.10

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNasdaq
SectorHealthcare
SIC industryPharmaceutical Preparations
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2011
SEC CIK1517022

Selected SEC filings

10-K2026-02-26
View on EDGAR →
10-Q2026-08-05
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-06-30
View on EDGAR →
8-K2026-06-22
View on EDGAR →
8-K2026-05-07
View on EDGAR →

Largest pharmaceutical peers

All pharmaceutical stocksAll Healthcare companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.